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DeepNewz, mobile.
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The People's Bank of China (PBOC) cuts the CNY Central Parity Rate by 2 pips to 7.0950 per USD, exceeding market expectations. China's yuan opens trade at 7.2251 per dollar, slightly lower than the previous close. PBOC injects 150 billion yuan via 7-day reverse repos at 1.80%, signaling potential monetary easing. Speculation arises about China starting quantitative easing (QE), with Xi Jinping possibly instructing PBOC to buy bonds. China's stock market sees a rise driven by bank strength offsetting falls in developers' stocks. The yuan weakens against the dollar, facing persistent downward pressure.
China’s prime minister has traditionally held sway over economic policy. But Xi Jinping is starting to steal his thunder. What explains these changes? https://t.co/Xbui8fUjBy 👇
China has moved its exchange rate (blue) back to the top (weak) end of the 2% band around the fix (black). That's likely where we'll stay ahead of US elections. After the US imposed tariffs in 2017/8, RMB fell around 10% in short order. China is signaling it will do that again... https://t.co/vDHDKDNLvO
Not enough of you talking about China QE + U.S. future QE too ... the PIVOT is coming this year. All of it very bullish for $BTC ... https://t.co/QDmTFdIjRc
